Industrial Market Outlook Q1 2023 Low Vacancy Rates Impact Deal Flow Despite a challenging economic climate, the Chicago industrial market continues to show resilience, with strong tenant demand and low vacancy rates characterizing the market. Landlords remain in the driver's seat as tenants search the market for space, particularly in the 100K SF and under category. Tenants...
Jan. 18, 2023 --Brown Commercial Group has promoted Mason Hezner and Jim Pietrarosso to vice president of sales. Both were formerly senior brokers, focusing on industrial and office real estate brokerage services. They have played integral roles in the firm’s industrial sales growth. Hezner joined Brown Commercial Group in 2012 and is a key contributor to...
Industrial Market Trends Q3 2022 Chicago's industrial market recorded a strong third quarter, with rental rates jumping an unprecedented 13 percent and the vacancy rate reaching a new low of 4.54% (and even lower in O'Hare and other submarkets). Among the key industrial market trends to watch are: Interest rates -- Industrial fundamentals remain strong, but rising interest...
July 7, 2022 -- Brown Commercial Group negotiated the sixth space expansion for Elgin Recycling, a fast-growing, environmentally focused company based in Chicago’s suburban market. Broker Collin Tyrrell worked with president Dan Brown on the 63,800-square-foot industrial lease at 1101 Wesemann Dr. in West Dundee, IL. Brown has been a strategic real estate advisor for Elgin...
July 5, 2022 -- With a 63,800-square-foot industrial lease in suburban Chicago, Brown Commercial Group negotiated the sixth industrial space expansion for Elgin Recycling, a fast-growing, environmentally-focused company based in Chicago’s suburban market. Brown Commercial Group President Dan Brown has been a strategic real estate advisor for Elgin Recycling for more than 20 years, working to identify and...
June 28, 2022 From the Bisnow Chicago Deal Sheet -- Brown Commercial Group President Dan Brown and partner Mike Antonelli represented Bulldog Cartage in a 37.8K SF industrial lease in Chicago's west suburban Elk Grove Village. The storage, staging and shipping company added space in part of a 103K SF property at 133 South Rohlwing Road...
May 7, 2022 --Partner Mike Antonelli of Brown Commercial Group, Inc. represented a private investor in a 17,735-square-foot industrial investment sale at 1395 Jeffrey Drive in Addison, Illinois. The latest sale was the culmination of a year-long strategy to secure, reposition and maximize the value of a two-building industrial portfolio (totaling 37,735 square feet) in the...
March 17, 2022 -- The IL Real Estate Journal recently highlighted 40,045 square feet of industrial news by Brown Commercial Group, which, represented several tenants who are expanding in the market. Here are the highlights of this industrial news story: Broker Candace Scurto represented a private investor in selling a 14,875 SF industrial building at 119 Bond...
March 6, 2022 -- Chatter about the current state of the suburban industrial real estate market quickly trends toward superlatives. "The hottest I've seen," said Dan Brown, president of Brown Commercial Group in Elk Grove Village. "Over the last 18-24 months I've just never seen anything like it. It's accelerating at an extremely aggressive pace," added Alfredo Gutierrez,...
JULY 27, 2021 Mike Antonelli, Partner at Brown Commercial Group, achieved the SIOR industrial designation awarded by the Society of Industrial and Office REALTORS®. SIOR is a Washington, DC-based international professional organization of more than 3,400 commercial real estate professionals who earned the coveted SIOR designation. Antonelli received the designation after completing at least five years of creditable experience...
